Target / Midland So what to do next?

[Anonymous]

Our state SOL is 3 years.

Target first DofD was 11/2010. The CO happened 4/2011. I am assuming it will fall of 7 years from 11/2010? They have not reported anything on it since 01/2013. It just shows as a CO. We are willing to pay it....

HOWEVER, the other beast is Midland. It shows under them that the debt was opened in 3/2012 and there is a note on that item that say:  This account is scheduled to continue on record until Jun 2017. It also keeps increasing in amount monthly on their reporting.

SO! Can Midland report until 2017? Can I dispute Midland's reporting since it is completely different?

Can I go back to Target (the original debt) and work out payment with them or do I have to deal with Midland?

These two things and a foreclosure that started in 2010 (scheduled to come off report in 2016) are the ONLY bad things on his credit - everything else shows paid as agreed and are all pretty. HELP! We want to buy again in 2015. I need to figure out how to fix this! What are my options and where do I start?

[Anonymous]

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@Anonymous wrote:

Our state SOL is 3 years.

Target first DofD was 11/2010. The CO happened 4/2011. I am assuming it will fall of 7 years from 11/2010? They have not reported anything on it since 01/2013. It just shows as a CO. We are willing to pay it....

HOWEVER, the other beast is Midland. It shows under them that the debt was opened in 3/2012 and there is a note on that item that say:  This account is scheduled to continue on record until Jun 2017. It also keeps increasing in amount monthly on their reporting.

SO! Can Midland report until 2017? Can I dispute Midland's reporting since it is completely different?

Can I go back to Target (the original debt) and work out payment with them or do I have to deal with Midland?

These two things and a foreclosure that started in 2010 (scheduled to come off report in 2016) are the ONLY bad things on his credit - everything else shows paid as agreed and are all pretty. HELP! We want to buy again in 2015. I need to figure out how to fix this! What are my options and where do I start?

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Yes, Midland can report until 2017 - that is 7 years from the DoFD. You can try to dispute but it will *probably* not go very far. If Traget is reporting a $0 balance then they have sold the debt and they cannot legally accept any payment from you.

If Target has sold the debt to Midland (most likely they have) the only way to get them off is through GW request.

You need to take a hard stand with Midland - Inform them that it is passed SOL, and 'they had their chance' to pursue you for this, and now if they want ANYTHING from you they need to give you something in return and thats going to be deletion of the reporting - nothing less. I also would not offer them anything more than 20% of the original charge off amount - thats more than generous for something they paid 3-5 cents on the dollar for. Don't let them know you are wanting to get a mortgage soon, that will just be an incentive for them to dig in and not negotiate.

[Anonymous]

Updated, with more questions. The ORGINAL debt was with Target National Bank. Apparently, TNB was sold off to TD Bank in 2012. SO! Do I dispute the debt with the CRA's or do I goodwill it to TD Bank? WWYD? There is no CEO to contact for TNB. I really, really want both of the baddies off but I know if I can get the original off I might have a shot at getting midland off, too. HELP!

[Anonymous]

Getting the OC off in no way obligates Midland to remove anything. Consider these completely separate issues, one requiring a GW deletion, the other requiring a PFD settlement.

[Momof5]

Good luck reaching anyone at TD Bank!  I have tried and have gotten no response, not even a F* off.

I did reach out to the new CEO of Target stating how disappointed I am with their selection of TD Bank and described their lack of response.  I got a call from an assistant in the "Financial Services" office @ Target.  She is "looking into it".  I will post about it if I have any GW success from them.

In the meantime, I wonder if TD Bank has accurate info from an account that was charged off by TNB.  Is the listing TNB or has it changed to TD Bank?

[RobertEG]

What is the inaccuracy in reporting by Midland?

Their reporting of Open date refers to the date they received collection authority, not the date of the debt.

[Anonymous]

RobertEG Midland shows up as a factoring company, the amount is like $2K more than the original balance. They are reporting as an open TL. From what I have read, they are pretty impossible to budge, and I would love to say there is some serious inaccuracies but I dont see it based on the info I know to look for on the report. They note a fall off date about 30 days different than Target, but that's certainly no big deal.

[Anonymous]

Momof5, it still shows as TNB and last time they updated the report was 2012 when it was sold to Midland.

[Momof5]

You could dispute the Target/TNB listing and you may end up with a deletion of that TL if TNB doesn't respond.  It wont affect the Midland TL though.